HERRY HILL, N.J.--(BUSINESS WIRE)--Oct. 8, 1998--Eat At Joe's
Ltd. (OTC BB:JOES), an emerging 1950s style diner restaurant chain,
announced the opening of its newest restaurant yesterday, a 4,000
square foot unit at The Moorestown Mall, Moorestown, N.J.
This is the eighth Eat at Joe's restaurant in the rapidly
expanding chain, and Joseph Fiore, chairman and CEO, noted that "we
anticipate excellent results from this new 120 seat restaurant. The
Moorestown Mall attracts high volume traffic, and our new unit is
strategically placed at the entrance to the mall and is adjacent to
a multiplex movie theater."
Fiore also added that, "we expect this high traffic location to
become profitable very quickly. The history of our chain is that
each of our units has become profitable within its first few months
of operation."
Fiore reiterated his earlier statement, that "new store openings
are planned in the fourth quarter for Plymouth Meeting Mall, Pa.;
Neshaminy Mall, Bensalem, Pa.; and Owings Mills Mall, Md.
Therefore, we are on target to reach our 1998 goal of approximately
10-12 Company owned stores, and attaining profitability by the end
of the fourth quarter of 1998."
Eat At Joe's is a diversified restaurant organization,
initially building a new chain of 1950's style diners featuring
quality, home-cooked American meals at affordable prices in an
appealing and fun atmosphere.
Except for historical matters contained herein, the matters
discussed in this press release are forward-looking statements and
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
These forward-looking statements reflect assumptions and involve
risks and uncertainties which may affect Eat At Joe's Ltd.'s
business and prospects and cause actual results to differ materially
from these forward-looking statements.
For further information, please contact:
The Wall Street Group Inc. Eat at Joe's Ltd.
32 East 57th Street Financial Division
New York, N.Y. 10022 670 White Plains Road, Suite 120
212/888-4848 Scarsdale, NY 10583
Attn: Ron Stabiner
vice president Attn: Joseph Fiore, chairman & CEO
Visit the Eat At Joe's Website at: eatatjoesltd.com.
CONTACT:
Eat At Joe's Ltd.
Financial Division
Joseph Fiore, chairman and CEO
914/725-2700
or
The Wall Street Group Inc.
Ron Stabiner, VP, 212/888-4848
KEYWORD: NEW JERSEY PENNSYLVANIA NEW YORK MARYLAND
BW1281 OCT 08,1998
8:02 PACIFIC
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JOES: $ 0.55a
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